The Crime Branch (CB) probing the alleged corporate social responsibility (CSR) funds scam on Monday received the custody of the key accused, Ananthu Krishnan, for four days till Thursday.
His custody was secured from a Muvattupuzha court in two new cases. The cases account for the alleged cheating of ₹1.20 lakh.
“The fact is that neither has he made even a single formal application for CSR funds nor has he received a single penny as CSR. He collected investments from people and kept rolling them. So, on collecting investments for delivering 48,000 two-wheelers, he could actually deliver only 18,000,” said investigation sources.
The investigation team is verifying the huge volumes of documents seized from Ananthu’s multiple offices in Kochi. Efforts are also on to trace the money trail through his multiple bank accounts, around 19 of them, by roping in his accountants.
The CB had received his custody for five days earlier this month and had since returned him to judicial custody. He allegedly cheated thousands of people across the State by offering to deliver two-wheelers, laptops, mobile phones, sewing machines, and other home appliances at half the price by allegedly accessing the CSR funds of companies. He reportedly set up 62 societies across all blocks in the State for collecting money.
Thousands of complaints have been lodged in connection with the alleged scam across the State. The aggrieved investors in North Paravur have come together to form an action committee to coordinate their fight for justice.
The scam was unearthed with his arrest by the Muvattupuzha police on January 31 following a petition by a woman. The petition received by the Chief Minister’s office had been transferred to the Ernakulam Rural police.
